Trending...
- Sea Island Writers Retreat and chromatic black™ Host Three Virtual Writing Workshops
- E3 Forensic Platform Innovates again with Remote Cloud Collection
- InventHelp Inventor Develops New Toss/Target Game (NJD-2447)
WESTFIELD, N.J.--(BUSINESS WIRE)--AB Value Management LLC and Bradley L. Radoff (together with their affiliates, the "AB Value-Radoff Group" or "we"), who own approximately 17.6% of the outstanding shares of Rocky Mountain Chocolate Factory, Inc. (NASDAQ: RMCF) ("Rocky Mountain" or the "Company"), today issued the following statement:
"We are extremely dismayed that the Board attempted to derail an agreed upon settlement – with the Company's largest stockholder – by issuing an unprecedented press release rather than attempt to have a private conversation with us. The Board chose to set a new standard for low-road tactics in an election contest.
We hope the Board finally begins to reflect on its obligations and shortcomings. We recently sent the Board a private communication to make it aware of concerning information pertaining to previously undisclosed matters about the past employment of the Chair of the Audit Committee. We cannot help but question if yesterday's public missive was retaliation for us raising justified concerns about the leader of a key committee that is responsible for the Company's financial integrity.
More on Jersey Desk
Despite the Board's scorched earth tactics, we still honored its request for a 'good faith proposal' last night and are now awaiting a response. We put forth a new highly qualified female director candidate with corporate governance acumen, food sector expertise and franchise experience. Our new candidate – who is completely unaffiliated with our group and respective organizations – also has public company board experience and strong knowledge of the U.S. and Canadian consumer markets. Assuming the Board will add this objectively stellar candidate, we are ready to agree to the other settlement terms that our group previously accepted. In our view, it would only validate the need for sweeping change atop Rocky Mountain if the Board continues to make a mockery of shareholder democracy and rejects yet another strong female candidate."
Contacts
Saratoga Proxy Consulting
John Ferguson / Joe Mills, 212-257-1311
info@saratogaproxy.com
Longacre Square Partners
Greg Marose / Bela Kirpalani, 646-386-0091
gmarose@longacresquare.com / bkirpalani@longacresquare.com
"We are extremely dismayed that the Board attempted to derail an agreed upon settlement – with the Company's largest stockholder – by issuing an unprecedented press release rather than attempt to have a private conversation with us. The Board chose to set a new standard for low-road tactics in an election contest.
We hope the Board finally begins to reflect on its obligations and shortcomings. We recently sent the Board a private communication to make it aware of concerning information pertaining to previously undisclosed matters about the past employment of the Chair of the Audit Committee. We cannot help but question if yesterday's public missive was retaliation for us raising justified concerns about the leader of a key committee that is responsible for the Company's financial integrity.
More on Jersey Desk
- ExtensisHR Earns Great Place to Work Certification™
- Unprecedented Stress Levels Reveal Productivity Loss in the Billions; ASCEND Method Enters the Market
- Tech Luminary Adrian Cockcroft Joins OrionX as Partner
- Nomorobo Assists Urgent FCC and Carrier Efforts to Crack Down on Auto Warranty Scam Robocalls
- OPEX® to Exhibit Warehouse Automation Solutions at UK Event for Supply Chain and Logistics Professionals
Despite the Board's scorched earth tactics, we still honored its request for a 'good faith proposal' last night and are now awaiting a response. We put forth a new highly qualified female director candidate with corporate governance acumen, food sector expertise and franchise experience. Our new candidate – who is completely unaffiliated with our group and respective organizations – also has public company board experience and strong knowledge of the U.S. and Canadian consumer markets. Assuming the Board will add this objectively stellar candidate, we are ready to agree to the other settlement terms that our group previously accepted. In our view, it would only validate the need for sweeping change atop Rocky Mountain if the Board continues to make a mockery of shareholder democracy and rejects yet another strong female candidate."
Contacts
Saratoga Proxy Consulting
John Ferguson / Joe Mills, 212-257-1311
info@saratogaproxy.com
Longacre Square Partners
Greg Marose / Bela Kirpalani, 646-386-0091
gmarose@longacresquare.com / bkirpalani@longacresquare.com
Filed Under: Business
0 Comments
Latest on Jersey Desk
- HERTHENA-Lung02 Phase 3 Trial of Patritumab Deruxtecan Initiated in Patients with EGFR-Mutated Metastatic Non-Small Cell Lung Cancer
- Gospel Charting Artist Jeremiah Nedu Is On The Rise With New Single "Your Mercy"
- Peer-Reviewed Study Shows Measurable Impact on Employee Health and Productivity from Employee Assistance Program
- HWS Announces Top 10 Low Cost Vacation Spots
- World's First Walkie-Talkie Bone Conduction Sport Headphones
- U.S. FDA Approves Additional Indication of NUBEQA® (darolutamide) in Combination with Docetaxel for the Treatment of Metastatic Hormone-Sensitive Prostate Cancer (mHSPC)
- Briar Hills Villas Condo Association Names CPM To Manage Suburban Development In West Orange NJ
- Construction Begins on Comprehensive Sedation Dentistry Center in Frederick Maryland
- Kinugawa Onsen Celebrates its 330th Anniversary AND Kawagoe City Celebrates its 100th Anniversary - Both with Fireworks!
- Rook Coffee Brings A Fresh Favorite Back
- Legend Biotech Announces Preliminary Results for the Six-Months Ended June 30, 2022
- VA Center of North County Hosts It's First Annual VANC Fest; an Art, Music and Culinary Experience
- 10 Years in the Making: #LatinaGeeks Celebrates 10th Anniversary with Inaugural Inspirada Awards & Fundraising Gala
- CME Symposium- Fine-Tuning the Management of Patients with #WorseningHeartFailure with Reduced Ejection Fraction
- Alacriti Appoints New Chief Sales Officer and SVP of Faster Payments
- 3i Solutions Announces New Leadership Brings a Customer-Focused Approach
- Cross River Doubles Down on Community Commitment with Spotlight on Financial Literacy
- Perle wins Network Management Product of the Year
- LYNPARZA® (olaparib)Approved in the EU as Adjuvant Treatment for Patients With Germline BRCA-Mutated, HER2-Negative High-Risk Early Breast Cancer
- Joseph Federico, Director of NJMET Inc., Announces 2022 STEM Scholarship Recipient